The “cobalt story” is becoming increasingly familiar to metals investors. The explosion in the electric vehicle market has led to surging demand for the lithium-ion batteries that power these vehicles. In turn, battery-makers are scrambling to source sufficient supplies of the metals that go into these batteries.
In particular, the cobalt market is already showing signs of stress. With cobalt production almost exclusively (98%) a byproduct of copper and/or nickel mining, this makes increasing the supply of cobalt especially challenging. Compounding this issue, Tesla Motor’s CEO, Elon Musk, has famously stated his intention to use North American metals sources for all North American “Gigafactory” production.
From where will this additional cobalt come? One of the companies looking to answer that question is Cobalt Power Group Inc. (TSX: V.CPO, OTCQB: CBBWF, Forum), symbol “CPO”. Cobalt Power is seeking to develop prospective cobalt properties in Canada’s “Cobalt Camp”, situated in Northern Ontario, centering around the town of Cobalt, Ontario.
The Company’s flagship property is the Smith Cobalt Property, a land package which now totals 1,170 hectares in size. CPO has focused on developing this property, but is also busy adding additional properties that are prospective for cobalt exploration.
(click to enlarge)
Stockhouse recently had the opportunity to sit down with the President and CEO of Cobalt Power Group, Dr. Andreas Rompel, to discuss CPO’s operations and its long-term strategy for unlocking market opportunities in the cobalt sector.
FULL DISCLOSURE: Cobalt Power Group Inc. is a paid client of Stockhouse Publishing.